🏠Rent vs Buy Calculator

Compare the true cost of renting vs buying a home over time.

Monthly Rent ($)

Home Price ($)

Down Payment (%)

Mortgage Rate (%)

Loan Term (Years)

Annual Rent Increase (%)

Property Tax Rate (%)

Monthly Insurance ($)

Annual Maintenance (%)

Monthly Rent

$1,500.00

Monthly Buying Cost

$2,216.96

Mortgage: $1,516.96 | Tax: $300.00 | Ins: $150.00 | Maint: $250.00

Total Rent (30 yrs)

$856,357

Total Buying Cost (30 yrs)

$858,107

Renting Saves You

$1,749

over 30 years

Down Payment

$60,000

Loan Amount

$240,000

Breakeven Year

N/A

About Rent vs Buy Calculator

Compare the long-term financial impact of renting versus buying a home. Input purchase price, down payment, mortgage rate, rent amount, and investment assumptions to see the net cost of each option over your chosen time horizon, including home appreciation, equity build-up, opportunity cost, and transaction costs.

How to Use Rent vs Buy Calculator

1
Enter home purchase details
Input the purchase price, down payment, mortgage rate, and loan term.
2
Enter rental and investment details
Input the monthly rent, expected rent increase, and assumed investment return rate.
3
Compare over time
View the net cost comparison and break-even timeline chart for both options.

Common Use Cases

Deciding whether to buy or continue renting in your housing market
Calculating how long you need to stay in a home for buying to make sense
Comparing home ownership costs vs renting and investing the difference
Presenting a financial analysis before making a home purchase decision

Frequently Asked Questions

Is it always better to buy than rent?

Not necessarily — it depends on your market, how long you stay, your down payment, and what you could earn by investing that down payment instead. This calculator shows the break-even point where buying becomes more cost-effective.

What factors does the calculator account for?

For buying: mortgage payments, property tax, insurance, maintenance (1-2% of value/year), HOA, closing costs, and home appreciation. For renting: monthly rent, annual rent increases, and the investment return on the down payment.